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News: SEBI announced a proposal to introduce the Single Window Automatic & Generalised Access for Trusted Foreign Investors (SWAGAT-FI) framework for FPIs and FVCI (Foreign venture Capital Investor).
About SWAGAT-FI
- SWAGAT-FI is a single-window, unified access mechanism for select low-risk foreign investors.
- Full form: Single Window Automatic & Generalised Access for Trusted Foreign Investors
- Aim: The framework aims to unify, streamline, and standardise market access for specified trusted foreign investors, simplify compliance and documentation, and improve India’s attractiveness as an investment destination.
- Eligibility
- Government and government-related investors, including central banks, sovereign wealth funds, and multilateral entities.
- Appropriately regulated Public Retail Funds such as mutual funds, insurance companies, and pension funds.
- Existing FPIs meeting criteria may convert to SWAGAT-FI status.
- Features
- Option to register as both FPI and FVCI without further documentation, enabling investment in listed equity and debt (as FPI) and in specified unlisted sectors and startups (as FVCI).
- Continuance of registration, fee payment, and KYC review every 10 years.
- Optional single demat account for all holdings across routes, with depository-level tagging for supervision.
- Removal of the aggregate NRI/OCI/Resident Indian contribution cap for SWAGAT-FIs (currently 50% for FPIs).
- Unified registration across routes with reduced repeated compliance.
